Mobile telecommunication operator MobiFon posted an 85% increase in operational profit for the first nine months of the year, up to 83.9 million dollars, as the total number of users added 62%, exceeding 1.62 million, according to a release issued by Dutch telecom company ClearWave N.V., the main shareholder in MobiFon and Cesky Mobil, held by Canadian group Telesystem International Wireless Inc. (TIW).
MobiFon holds a 50% market share and its revenues derived from services stood at 260.7 million dollars between January-September 2001, 20% higher as compared to the year-ago period.
EBITDA amounted to 139 million dollars, against the 96.3 million dollars derived over the year-ago period.
Over the third quarter, MobiFon operational profit doubled, up to 32.9 million dollars, while operational revenues posted a 21% increase, to 96.1 million dollars.
ClearWave recorded a net income of 5.3 million dollars for the first nine months of 2001, compared to net losses of 13.1 million dollars for the corresponding period last year. The company achieved profitability for the first time in the second quarter of 2001 with a net income of 1.5 million dollars.
"We are very pleased with our performance in the third quarter and the first nine months of this year, highlighted by strong subscriber growth, effective cost management and the successful execution of our business plans. Our results also reflect our market leadership in Romania and rapid penetration in the Czech Republic where we have achieved 95% brand awareness in nineteen months of commercial activity," stated Al Tolstoy, President and Chief Executive Officer of ClearWave.
The company added 300,600 net subscribers in the latest period, marking its second highest number of net additions for a quarter, to reach 2,303,000 total subscribers, double the year-ago level of 1,159,100.
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